PETER SCHIFF IS RIGHT... All Ponzi Schemes eventually FAIL even BlockChain Ponzi

[HardFacts]

Peter Schiff is Right, BitCoin is well on its way to complete collapse     

Now that BitCoin is below 20,000 Margin Calls will force MASS SELLING soon enough...   

It does not matter if a Ponzi Scheme is based on Tulips, Based on Chain Letters, or Based on Blockchain.  No matter what method you use to run a PONZI SCHEME...  Nothing changes the fact that BitCoin has zero intrinsic value, is a PONZI and will collapse like every PONZI in history.

SCARCITY means nothing:   There are only a finite number of shares of Celsius, that does not give them value...  I have only 1000 tokens of HARD FACTS NFT's available, there will never be more than 1000 in existence... That does not make them worth a million dollars.

For those of you that are so CULT LIKE in your beliefs, and refuse to accept facts and the reality of what is now happening:   Talk is cheap, make sure you take out a second mortgage on your homes, run up your credit cards, and " BUY THE DIP "     

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[Upgrade00]

• First Peter Schiff was right,
• Then, we Bitcoin people were right;

OMG,  You guys were right about BitCoin price going up    I wish I had bought in back in march  

• Now, Peter Schiff is right again.

The inconsistency in your ideas and opinions with tweets from people or price actions shows you should not invest in Bitcoin at all, and that's perfectly fine.
Not everyone needs to invest in Bitcoin.

It does not matter if a Ponzi Scheme is based on Tulips, Based on Chain Letters, or Based on Blockchain.  No matter what method you use to run a PONZI SCHEME...  Nothing changes the fact that BitCoin has zero intrinsic value, is a PONZI and will collapse like every PONZI in history.

People throw the word 'ponzi' around, without understanding what it actually is.
A pomzi scheme, functions similar to a pyramid scheme, where a central authority lures investors with the incentive of profits, which are gained from earlier investors.

Bitcoin is an asset which is projected to appreciate in value over time with more adoption and popularity and based on price history, just like stocks of public companies and many other assets. Bitcoin also has utility besides buying and selling as it allows borderless P2P transactions between users
There is no central authority or promise of profit.

[virtualdn]

If you're such a big Schiff fan go buy gold and leave this forum, it's obviously not the place to be for you. We'll talk again in 5 years, let's see who laughs best. I love it how people play smart when BTC goes down, only to cry once it reaches $100k 

[hZti]

If you call Bitcoin a ponzi scheme than you might as well also call the USD, EUR and other currency a ponzi scheme because in some sense all of them are one. But the questions is if they will pop in the net year or the next 100 years and I think none of them will in the next few years.

[virtualdn]

If you call Bitcoin a ponzi scheme than you might as well also call the USD, EUR and other currency a ponzi scheme because in some sense all of them are one. But the questions is if they will pop in the net year or the next 100 years and I think none of them will in the next few years.

That's definitely the biggest ponzi. Every year they print more money to keep the pace. In fact, inflation eats fiat. Chickens should go buy fiat, it's "safe" and smells nice too.

[pkersey]

Peter Schiff is Right, BitCoin is well on its way to complete collapse     

Now that BitCoin is below 20,000 Margin Calls will force MASS SELLING soon enough...   

It does not matter if a Ponzi Scheme is based on Tulips, Based on Chain Letters, or Based on Blockchain.  No matter what method you use to run a PONZI SCHEME...  Nothing changes the fact that BitCoin has zero intrinsic value, is a PONZI and will collapse like every PONZI in history.

SCARCITY means nothing:   There are only a finite number of shares of Celsius, that does not give them value...  I have only 1000 tokens of HARD FACTS NFT's available, there will never be more than 1000 in existence... That does not make them worth a million dollars.

For those of you that are so CULT LIKE in your beliefs, and refuse to accept facts and the reality of what is now happening:   Talk is cheap, make sure you take out a second mortgage on your homes, run up your credit cards, and " BUY THE DIP "     

This is the dot com crash except for crypto. It doesn't mean there was no more internet, it just meant the speculation was rampant and there were too many fly by night scams in the space. BTC will still exist 10 years from now and probably worth more than it is today. As far as how low it can drop, 10x from the high is about $6700. It's done this before on several occasions.

[goldkingcoiner]

Excuse me I may have missed something. Which part of blockchain bears any kind of resemblance to a ponzi scheme? Blockchain is the technology behind cryptocurrencies like Bitcoin. Its not actually Bitcoin itself.

If you don't want to buy the dip because you are in an emotional state of fear from the price dropping lower than you thought or hoped, then thats fine. But there is absolutely no reason to spread FUD. You want others to panic sell too?

The current price of BTC is going down, not because of a ponzi scheme but because of increasing FUD.

If Binance disables Bitcoin withdrawal for whatever random reason, the price drops because of panic sellers. You know who buys that coin? Binance. Same goes for every other big player hoping to buy cheap coin from scared coiners...

[HardFacts]

This is the dot com crash except for crypto. It doesn't mean there was no more internet, it just meant the speculation was rampant and there were too many fly by night scams in the space. BTC will still exist 10 years from now and probably worth more than it is today. As far as how low it can drop, 10x from the high is about $6700. It's done this before on several occasions.

BIG DIFFERENCE:   No one is saying BLOCKCHAIN will not exist, just the BitCoin PONZI scheme that is using the blockchain will go to near zero.   Bitcoin is NOT blockchain.  BITCOIN is not all cryptos, I am sure the Federal Reserve Coin will exist on the blockchain well into the future.

Just like PETS.COM was not the internet.  Pets.com gone, internet itself is still here.   

The current price of BTC is going down, not because of a ponzi scheme but because of increasing FUD.

BTC is going down because the PONZI is ending, there was no FUD near the highs of 68,000 dollars, but the price went down regardless.   More people wanted to sell near 60,000 than wanted to buy.   Smart money sold their BitCoin near the top, the fear and FUD now that the crash is in progress is the DUMB MONEY, the bag holders figure it out....



[moderator's note: consecutive posts merged]

[dothebeats]

Lots of fly-by-night scams on the scene but in the end it doesn't define bitcoin at all. Schiff has been stating all these negativities about bitcoin every time it hits the reds, but he's always quiet when the price rises and the overall market sentiment on bitcoin is positive. Also, 'Schiff is right?' How many times does it need for him to hit the correct predictions before bitcoin goes to zero? He's been right for a lot of times I can remember, but bitcoin is still here and still manages to get by and break records.  

The current price of BTC is going down, not because of a ponzi scheme but because of increasing FUD.

BTC is going down because the PONZI is ending, there was no FUD near the highs of 68,000 dollars, but the price went down regardless.   More people wanted to sell near 60,000 than wanted to buy.   Smart money sold their BitCoin near the top, the fear and FUD now that the crash is in progress is the DUMB MONEY, the bag holders figure it out....

Yeah maybe 'the ponzi' affects the global stock markets too, because there is also a sell-off happening right now on that part of the investment market. Peter Schiff might want to take a look.

[Detritus]

Peter Schiff is Right, BitCoin is well on its way to complete collapse     

Now that BitCoin is below 20,000 Margin Calls will force MASS SELLING soon enough...   

It does not matter if a Ponzi Scheme is based on Tulips, Based on Chain Letters, or Based on Blockchain.  No matter what method you use to run a PONZI SCHEME...  Nothing changes the fact that BitCoin has zero intrinsic value, is a PONZI and will collapse like every PONZI in history.

SCARCITY means nothing:   There are only a finite number of shares of Celsius, that does not give them value...  I have only 1000 tokens of HARD FACTS NFT's available, there will never be more than 1000 in existence... That does not make them worth a million dollars.

For those of you that are so CULT LIKE in your beliefs, and refuse to accept facts and the reality of what is now happening:   Talk is cheap, make sure you take out a second mortgage on your homes, run up your credit cards, and " BUY THE DIP "     

Is really terrible how crypto enthusiasts and some so-called investors only clamour for Bull market, at such they also fail to understand or prepared their minds for Bear market. Bitcoin is a seasoned coin which is known to halve every 4 years. Some may call Bitcoin or the entire Blockchain Ponzi because they are not making profit. But even if Bitcoin drop below $10k dollars, people who have the through knowledge of cryptocurrencies will continue to buy the Dip respectively and I will be among to eat the Dip.
Some don't cry wen the Bull is running but only cry when the bear is crawling, is not ment to be so.

[acroman08]

welcome back! it's been a while since you spammed this board with your "HardFacts" about how bitcoin is a Ponzi scheme, bitcoin will fail and peter schiff is right.

anyway, it's funny how FUDster always comes out of their cave to cry "we are right", "bitcoin will fail", and "bitcoin will crash" only when bitcoin's price is going down.

[HardFacts]

• First Peter Schiff was right,
• Then, we Bitcoin people were right;

BitCoin was given EVERY CHANCE in the world to succeed, even I was willing to give it a chance....  It failed.    

You can get very rich by investing early in a Ponzi Scheme      That does not change the fact that a Ponzi Scheme will always go to zero.

[Upgrade00]

[BitCoin was given EVERY CHANCE in the world to succeed....  It failed.     

You can get very rich by investing early in a Ponzi Scheme       That does not change the fact that a Ponzi Scheme will always go to zero.

You are not discussing objectively. I don't know what you even mean by every chance.
If you want to troll Bitcoin at least come up with reasonable arguments against it other than, "Bitcoin is a Ponzi scheme which is goin to zero".

How about you come back when Bitcoin actually goes to zero?

[HardFacts]

That's definitely the biggest ponzi. Every year they print more money to keep the pace. In fact, inflation eats fiat. Chickens should go buy fiat, it's "safe" and smells nice too.

VERY DISHONEST...   No one said people should buy Fiat....

TYPICAL TATIC of someone that has no valid argument, but is desperate to win:    Invent a dumb statement, and then attack your self invented dumb statement as if someone else had made it.   That shows UTTER WEAKNESS on your part.

[eaLiTy]

~
 I have only 1000 tokens of HARD FACTS NFT's available, there will never be more than 1000 in existence... That does not make them worth a million dollars.

If there are people willing to shell out money on your worthless peace, then it will fetch a million dollars  .

For those of you that are so CULT LIKE in your beliefs, and refuse to accept facts and the reality of what is now happening:   Talk is cheap, make sure you take out a second mortgage on your homes, run up your credit cards, and " BUY THE DIP "     

No one is forcing anyone to hold anything, if you think it will benefit you in the long run you have the option to invest in it according to your bank balance and be smart about your investment rather than going full in lending other people's money and investing in any financial asset. Only risk what you can afford to loose.

[KingsDen]

Re: PETER SCHIFF IS RIGHT... All Ponzi Schemes eventually FAIL even BlockChain Ponzi

Ok, thanks for your information.

The longest ponzi scheme in the world was founded by an American, Bernard Lawrence and it lasted for about 17years.

Let's be hopeful that Satoshi will beat that record with bitcoin to atleast 100yrs.

[Slow death]

Peter Schiff is Right, BitCoin is well on its way to complete collapse   

if Peter Schiff tells you to jump off a cliff, will you? when you bought bitcoin were you buying it because Peter Schiff told you to buy it or were you buying it because you did research and believed the price could go up? any investment has risks, and in any investment we need to take precautionary measures in case of a drop, and stop thinking that bitcoin is collapsing, price drop (even if it is a big price drop) is something normal in case of a crash. bitcoin or did you think that the price of bitcoin would just keep going up infinitely? if it went up a lot, it can also go down a lot

[Hispo]

Every time Bitcoin goes through a bear market it is always the same: people who do not even know what Bitcoin truly is start calling it a "ponzi scheme" or "scam", in spite Bitcoin itself is not a system that guarantee anyone high returns, unlike actual scams.

I'd like to ask those how call Bitcoin a Ponzi Scheme: Are not Ponzis supposed to collapse once and then it is all over? How many times has Bitcoin "collapsed"? I have personally never seen a Ponzi that collapses twice, three times and go on...  

[HardFacts]

Yeah maybe 'the ponzi' affects the global stock markets too, because there is also a sell-off happening right now on that part of the investment market. Peter Schiff might want to take a look.

It is obvious that you have NEVER LISTENED to what Peter Schiff says.   Peter Schiff has been warning about the stock market bubble for a very long time.  He talks about the stock market more than crypto....

So you disagree with Peter Schiff without ever having heard what he says.  Very typical for someone with delusions of getting rich and would never listen to anything that would interfere with your Dreams.   I would never listen to you for financial advice   

[HardFacts]

if Peter Schiff tells you to jump off a cliff, will you? when you bought bitcoin were you buying it because Peter Schiff told you to buy it or were you buying it because you did research and believed the price could go up?

It is very typical for a Bitcoin CULT BELIEVER to listen to WHO is saying something.   I do not know Peter Schiff, or Michael Saylor, or anyone else.  I have no personal bias for or against any of them.   I analyze the facts and make my choices based on who gives the best, most accurate analysis.

I know this concept is very foreign to you...  You and many others here will be dealt a very hard financial lesson for only listening to who and what you " like "....

Every time Bitcoin goes through a bear market it is always the same: people who do not even know what Bitcoin truly is start calling it a "ponzi scheme" or "scam", in spite Bitcoin itself is not a system that guarantee anyone high returns, unlike actual scams.

I'd like to ask those how call Bitcoin a Ponzi Scheme: Are not Ponzis supposed to collapse once and then it is all over? How many times has Bitcoin "collapsed"? I have personally never seen a Ponzi that collapses twice, three times and go on... 

You are living in the greatest era of MONEY PRINTING and speculation in world history.   Every time things started to go down, the Federal Reserve reacted with massive monetary stimulus which saved the stock market and many other insolvent companies... ( MARCH 2020 was just one of those times )....

Just because BitCoin recovered with massive help from the Federal Reserve does NOT mean it will not collapse.   GameStop stock has had several legs up and down, but it will eventually go to zero also.   What makes you ASSUME that a Ponzi can never have ups and downs   Did you just make that up 

Nothing goes up or down in a straight line.  You are doing some serious mental gymnastics and  to ignore reality here....



[moderator's note: consecutive posts merged]